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PRIVATIZATION IN POLAND
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Privatisation plan for the years 2008-2011
On 22 April 2008, the Council of Ministers adopted a document titled “Privatisation Programme for the years 2008-2011” under which 740 state-owned companies operating in several market domains were to be sold to private investors. On 10 February 2009, The Council of Ministers extended the list of companies to 802 entities. Joining the list were companies created through commercialisation (transformation of an enterprise into a commercial company or partnership).
Ownership changes in respective branches will be brought about in accordance with government programmes and sector strategies, both present and those which will be adopted during the implementation of the programme. According with the plan, the process of ownership transformations in most of the abovementioned sectors and branches will be finalised in the years 2008-2011.
It is estimated that by 2011 the total proceeds from privatisation will amount to PLN 30 billion. These budget revenues will be used in particular to support restructuring processes in various enterprises, key social programmes (including scholarships for young scientists) and to provide compensation for individuals who lost their property.
In order to facilitate the privatisation process during 2008-2011, some changes have been necessary to legislation prepared by the Ministry of Treasury concerning commercialization and privatisation. These changes:
1) increase the openness and transparency of the privatisation process,
2) allow the free transfer of stocks and shares owned by the Treasury to local government authorities,
3) adjust the remuneration of Treasury company board members to reflect market norms,
4) authorise the sale of stocks/shares of companies by public auction,
5) simplify privatisation procedures,
6) lower privatisation costs,
7) shorten the length of privatisation processes.The privatisation plan covers companies from key finance, power, chemical and petroleum sectors where privatisation has already started or will commence, as well as the following industries: machine, metal, electronic, electro-technical, spirits, food, wood and paper, furniture, clothing and clothing raw materials, transport and freight, trading companies and service units as well as minority shareholdings (the residues) or companies from the NFI Program.
Privatisation Plan for the years 2008-2011
http://www.msp.gov.pl/portal/en/6/766/Privatisation_plan_for_the_years_20082011.html
http://www.msp.gov.pl/portal/en/43/Announcements.html
Investor Relations Centre of the Ministry of Treasury:
Ph: (+48 22) 695 90 01
Ph: (+48 22) 695 90 02
Fax: (+48 22) 629 98 38
investor@msp.gov.plWebsite of the Ministry of Treasury: http://www.msp.gov.pl/portal/en
KEY PRIVATISATION PROJECTS FOR THE YEARs 2010-2011
No.
Company
Branch
Treasury’s stake
/stake for saleProcedure
1.
Enea S.A.
Energy
76.48%/67.05%
Sale on the WSE/negotiations
2.
Tauron Polska Energia S.A.
Energy
88.65%/10-35%
Sale on the WSE
3.
PGE Polska Grupa Energetyczna S.A.
Energy
85%/10-35%
Sale on the WSE
4.
Energa S.A.
Energy
91.28%/82.63%
Negotiations
5.
ZE PAK S.A. (Zespół Elektrowni Pątnów-Adamów-Konin S.A.)
Energy
50%/50%
Negotiations
6.
EC Zabrze S.A. (Elektrociepłownia Zabrze S.A.)
Energy
100%/85%
Negotiations
7.
LW Bogdanka S.A.
Hard coal mine
60.53%/51%
Public offer
8.
KWB Adamów S.A. (Kopalnia Węgla Brunatnego Adamów S.A.)
Lignite mine
100%/85%
Negotiations
9.
KWB Konin S.A. (Kopalnia Węgla Brunatnego Konin S.A.)
Lignite mine
100%/85%
Negotiations
10.
WZK Victoria S.A. (Wałbrzyskie Zakłady Koksownicze Victoria S.A.)
Coke works
100%/85%
Negotiations
11.
The Warsaw Stock Exchange (GPW
w Warszawie S.A.)Stock exchange
98.82%/51%-73.82%*
To be decided
12.
The Mint of Poland (Mennica Polska S.A.)
Securities
31.64%/31.64%
Public procedure
13.
First Chemical Group: Ciech S.A., ZAK S.A. and ZAT S.A. (Zakłady Azotowe w Tarnowie S.A.)
Chemical
36.68%/36.68%, 86.28%/85%, 52.56%/52.15%
Negotiations
14.
ZA Puławy S.A. (Zakłady Azotowe Puławy S.A.)
Chemical/nitrogen works
50.68%/50.12%
Public procedure
15.
Zakłady Chemiczne Police S.A.
Chemical works
59.41%/59.23%
Public procedure
16.
Grupa Lotos S.A.
Petroleum
53,19%/**
Lock-up**
17.
KiZCS Siarkopol S.A. (Kopalnie i Zakłady Chemiczne Siarki Siarkopol
w Grzybowie S.A.)Sulphur mine
and works100%/85%
Public procedure
18.
ZGH Bolesław S.A. (Zakłady Górniczo-Hutnicze Bolesław S.A.)
Metallurgy
/mining100%/85%
Sale on the WSE
/negotiations19.
Centrozłom Wrocław S.A.
Metallurgy/metal processing
100%/85%
Negotiations
20.
BGŻ S.A. (Bank Gospodarki Żywnościowej S.A.)
Banking
37.2%/37.2%
Council of Ministers consent
/negotiations21.
TP S.A. (Telekomunikacja Polska S.A.)
Telecommunications
4.15%/4.15%
Sale on the WSE
22.
Poznań International Fair (Międzynarodowe Targi Poznańskie Sp. z o.o.)
International fair
60%/up to 60%
To be decided
23.
Ruch S.A.
Press & FMCG distributor
56.86%/up to56.63%
Sale on the WSE
/negotiations24.
Dipservice w Warszawie S.A.
Property management
100%/up to 85%
To be decided
25.
TON Agro S.A. (Towarzystwo Obrotu Nieruchomościami Agro S.A.)
Property management
100%/up to 100%
To be decided
26.
H. Cegielski Poznań S.A.
Machine
100%/85%
Negotiations
27.
Nitroerg S.A.
Defence
100%/85%
Auction
28.
Intraco S. A.
Services/property management
100%/up to 85%
To be decided
29.
GAT S.A. (Gliwicka Agencja Turystyczna S.A.)
Services/tourism
100%/100%
Auction
* new privatisation strategy to be developedas
** a 180-day lock-up as part of a transaction finalised in January 2010
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